Tigo Energy (NASDAQ:TYGO) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Tigo Energy to “Sell” from “Hold,” while the broader analyst consensus remains “Hold” with a $3.73 price target.
• Tigo Energy’s stock opened at $1.22, well below its 50-day and 200-day moving averages of $2.04 and $3.24, respectively. The shares have traded between $0.93 and $5.33 over the past year.
• The company beat quarterly EPS estimates ($0.05 versus $0.04) but missed revenue expectations, reporting $25.41 million compared with the $30.82 million consensus. Insiders sold 463,444 shares worth approximately $1.63 million during the last quarter.

Tigo Energy (NASDAQ:TYGO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other equities analysts have also recently commented on the company. Weiss Ratings raised Tigo Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Roth Capital cut shares of Tigo Energy from a "buy" rating to a "neutral" rating and set a $1.30 target price on the stock. in a report on Wednesday. Northland Securities set a $6.40 target price on shares of Tigo Energy in a report on Thursday, May 7th. Finally, HC Wainwright decreased their target price on shares of Tigo Energy from $6.00 to $3.50 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Tigo Energy has a consensus rating of "Hold" and a consensus price target of $3.73.

Tigo Energy Price Performance

TYGO stock opened at $1.22 on Friday. The firm has a market cap of $92.61 million, a P/E ratio of 8.71 and a beta of 1.32. The firm's fifty day moving average is $2.04 and its 200 day moving average is $3.24. Tigo Energy has a 52 week low of $0.93 and a 52 week high of $5.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.90 and a current ratio of 3.04.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $25.41 million for the quarter, compared to the consensus estimate of $30.82 million. Tigo Energy had a negative return on equity of 1.74% and a net margin of 8.97%. Research analysts predict that Tigo Energy will post -0.01 earnings per share for the current year.

Insider Activity at Tigo Energy

In related news, CEO Zvi Alon sold 72,057 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $3.42, for a total transaction of $246,434.94. Following the transaction, the chief executive officer owned 1,239,316 shares in the company, valued at $4,238,460.72. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joan C. Conley sold 50,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total transaction of $155,000.00. Following the completion of the transaction, the director directly owned 227,902 shares of the company's stock, valued at approximately $706,496.20. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 463,444 shares of company stock worth $1,631,333. 26.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TYGO. AIGH Capital Management LLC purchased a new position in shares of Tigo Energy in the 1st quarter valued at approximately $27,374,000. AWM Investment Company Inc. purchased a new stake in Tigo Energy in the second quarter worth $7,801,000. BlackRock Inc. bought a new position in Tigo Energy in the second quarter worth $5,044,000. Renaissance Technologies LLC raised its holdings in Tigo Energy by 46.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company's stock worth $1,967,000 after purchasing an additional 449,140 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Tigo Energy by 182.4% during the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company's stock valued at $2,306,000 after buying an additional 595,702 shares during the period. Institutional investors own 15.72% of the company's stock.

Tigo Energy Company Profile

Tigo Energy, Inc NASDAQ: TYGO is a U.S.-based provider of module-level power electronics (MLPE) solutions designed to optimize the performance and safety of solar photovoltaic systems. Founded in 2007 and headquartered in Campbell, California, Tigo Energy develops hardware and software tools that enhance energy yield, improve system reliability, and streamline compliance with electrical codes. The company's technology platform is used by solar installers, project developers, and module manufacturers to deliver higher returns on investment and bolster the safety profile of PV arrays.

At the core of Tigo's offerings is its TS4 platform, a modular MLPE solution that enables real-time monitoring, rapid shutdown functionality, and maximum power point tracking at the panel level.

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